Crane Bank demands for USD 8 million accountability

By Moses Kyeyune.

Crane Bank has cried out to the Committee of Commissions Statutory Authorities and State Enterprises to seek explanation regarding the whereabouts of 8 million US-Dollars.

The money, an equivalent of 27 billion shillings had been borrowed by Crane Bank share holders as last minute  bail out prior to its closure in 2016.

Presenting a statement on the position of stakeholders regarding the takeover, the bank’s chairperson Joseph Biribonwa has said that they have lost track of the money which they deposited in the Central Bank, following the advice of the regulator, Bank of Uganda that doubles as the liquidator.